Note that this is an inverted chart. Now, all eyes on 3215!
With the volume and the pattern, this setup looks generally bearish and should take another 17% deep after breaking under 3215. From there, the first stop is at 3075 and then 2535. On the flip side, if 3215 hold the line with strong volume, we should revisit 3500.
With the volume and the pattern, this setup looks generally bearish and should take another 17% deep after breaking under 3215. From there, the first stop is at 3075 and then 2535. On the flip side, if 3215 hold the line with strong volume, we should revisit 3500.
Comment:
Second scenario seem to be at play right now. 3350 has to be broken before it's confirmed.
Comment:
Or this could be a trap. Watch carefully!
Trade closed: target reached:
Second scenario played out.
